Birmingham has been named as host city for the 2018 World Indoor Athletics Championship – securing a £20 million boost to the region.

The city had bid for the 2016 games but delegates at the International Association of Athletics Federation conference in Monaco gave them to Portland, Oregon instead.

But the IAAF handed the city the 2018 games, its first since the event was held at the NIA in 2003.

IAAF President Lamine Diack said: “Council was faced with a nice and difficult task to make a choice between two wonderful bids.”

Council deputy leader Ian Ward, who was in Monaco to lobby delegates ahead of the meeting, said: “We came here to win a World Indoor Athletics Championships and we will come back with one, so we are delighted.

“We have heard so many times from people here that the 2003 championships were among the best ever, there is a lot of goodwill towards Birmingham.”

He added: “Birmingham is already seen as a major base for athletics; we have a first-class infrastructure and regularly host major Grand Prix events at Alexander Stadium, and the US and Jamaican track teams were effusive in their praise of the training facilities that the city hosted leading up to the Olympics last summer.

“This will create a fantastic legacy to inspire everyone in the city to get involved in sport and give an estimated economic boost of more than £20 million.”

The city council has underwritten the £2.5 million cost of the bid, but fully intends to cover that with sponsorship.

The World Outdoor Athletics Championships takes place in London in 2017 and the first chance many will get to see British athletes in action after that will be in Birmingham.

The NIA is currently undergoing a £40 million overhaul which will see facilities improved and the capacity increased to 8,000.

Birmingham has also pledged to organise a 10km mass participation race to coincide with the championships.